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Shopping For Products On EMI Without a Credit Card Made Easy

February 21, 2019

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We all love shopping whether it is for essential products or something that we desire. But having to set aside a specific amount of money for shopping every month is not a possibility. It is because most of us work for a fixed income, and cannot afford to spend frivolously.

Financial agencies were able to narrow down on this requirement of buyers for which they created credit cards. However, the biggest issue with a credit card is that you have to pay a certain amount of service fee every time. This adds up to your overall expense and makes the cost of the product double.

Who wants to buy a product at higher than the original rate? If you feel the same way, then there is a payment alternative that you need to know about. It is called the No Cost EMI facility. The highlight of this service is that it allows you to make a purchase on EMI without a credit card.

What is No Cost EMI?

The concept of No Cost EMI is pretty simple and straightforward. It works like any other EMI facility provided by banks and agencies. However, the biggest difference is that you do not have to pay anything extra. It means the cost of your shopped product will be the same that you pay eventually.

When you purchase a product with a credit card, there is a certain percentage of interest charged. This amount is deducted along with your original installment till the time you have settled the payment in full. If you add this percentage over the course of the complete tenor, it can be a substantial expense.

But with the No Cost EMI facility, you do not have to bother about additional charges. Also, you can divide the total cost of the purchased product over a tenor just like with a credit card. However, you will save on those additional expenses made otherwise every month.

Besides, it even makes the service more affordable for people who want to stay within budget. In short, with the help of the No Cost EMI facility, you can shop for anything you wish. Also, you need not have to pay the entire amount at once!

What are the benefits of No Cost EMI?

You might be wondering why you should bother about using the No Cost EMI payment alternative. The answer is because it has a lot of benefits. To give you a broader idea of all the advantages, here is a list that we have created.

1. Flexible Tenor

Depending on the amount of the product, you are allowed to choose a flexible tenor. It means, you can decide how many months it would take, for you to pay the entire cost. This gives you an opportunity to plan your finances in advance, without making major changes.

2. No additional charges

The next advantage of using No Cost EMI payment scheme is the lack of extra expense. Suppose you decide to buy a smartphone worth Rs.15,000. But by using a credit card for your EMI facility, you end up paying Rs.18,000 for the same device. This additional difference of Rs.3,000 can be saved with No Cost EMI facility.

3. Acceptable Everywhere

Just like a credit card, the No Cost EMI facility is also acceptable everywhere these days. Whichever city you might be living in, you will be able to avail the service easily. Besides, different large and small-scale stores, also allow their buyers to make EMI purchase with this service.

4. Large financing amount

If you think that No Cost EMI can only be used for small budget shopping, then you’re completely wrong. The financing amount available under No Cost EMI payment scheme can be significantly large. Since it is divided some months, the total cost of your purchased product can be quite substantial.

No Credit Checks

In the case of a credit card, the financing agency would conduct a background check always. But by opting for the No Cost EMI facility, you will not have to go through this tedious process. The service is so easy to use, that you can get it on the spot by submitting your documents.

How to buy products on No Cost EMI?

Whether you are looking to buy a mobile phone, television or refrigerator, it can all be done on No Cost EMI. The service is available under the Bajaj Finserv EMI Network all across India in 1300+ cities and 60,000+ local stores.

Here are two ways of availing the facility:

By selecting your product and buying it with the help of an EMI Network Card at a partner outlet.

By depositing your KYC credential and a canceled cheque at a partner store to avail on-spot financing even without having an EMI Network Card.

There are various other pre-approved offers available with Bajaj Finserv as well. They will allow you to enjoy facilities like home loan, business loan, or personal loan. The aim of creating these offers is to make the financing process simple.

If you want to check your pre-approved loan offers, you can start by giving your basic personal details.

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